Real estate is our world…We live it, curate it, we care for it and analyze it.
– Stefan Swanepoel, Chairman, and CEO of T3 Sixty
The other day I was reading the current Swanepoel Trends Report for 2020 and this quote stopped me in my tracks. It felt so simple but I immediately knew it was also more than that. It was the word analyze that really got to me. As we wrap up this year, have you stopped to think and analyze where our industry is headed?
After some research and reflection over what happened in our industry in 2019, here are the 3 major trends projected for 2020:
- Concierge Services for buyers and sellers. At its core, the idea of concierge services is to create the smoothest transition for your clients after buying or selling.
First, let’s focus on the seller experience. It really starts in the staging process after they decide to list. That’s why companies like curbio pay to help sellers remodel their home, while not having to be paid until after closing. This helps sellers close faster with less overhead costs initially and is and looks to be a game-changer for the industry.
And we can’t forget the buyer’s experience either. Moving is pretty much always stressful, but concierge services like Updater, MooveGuru, and Move Easy were created to help your buyers with the monotonous tasks like transferring utilities, scheduling movers, and even hiring junk removers. They even go as deep as recommending providers in a new neighborhood so they can move in feeling prepared.
- Non-traditional living situations. As millennials grow into a major demographic of buyers and sellers this year, so will the searches for the most up and coming neighborhoods or the hottest trend is going to be also about where they are living and what sort of experience it is providing.
The search for what a neighborhood can provide is going to be just as or even more important as the house itself. So much so that it looks like the idea of trying new neighborhoods or cities is going to rise. Companies like Zeus allow people to rent homes for months at a time, whether it be for work or a lifestyle change, so they can try the area before purchasing. As an agent, it’s important to be knowledgeable about what millennials are looking for and stay in-the-know with these types of aspects in your local market.
And lastly – it’s the one we all know and have been talking about for the past 3 years…
- iBuyers. Yep, I said it. The concept of iBuyers and quick purchases is only going to grow over the next year.
As Opendoor, RedfinNow, and Zillow Offers continue to launch in new markets, the idea that your next client is going to consider a cash offer will become higher. It has been reported that the synchronous seller (someone buying and selling at the same time) will move to this model even more as iBuyer companies start to have their portals offer both experiences in one.
So as an agent, what should you be doing? Well, first it’s about learning that these companies can be your friend and not your foe. They are addressing long-standing issues (time, energy, lack of control, and pricing) that we can’t defeat alone. This is why we launched iBuyer Connect* as a feature in Cloud CMA. It gives you, the agent, the option to bring a cash offer from an iBuyer to your clients at a listing presentation assuming their home fits certain criteria and is a great way to use the iBuyer movement to your advantage.
And that wraps it up! We are going to have an exciting year that I know will land you some great deals and solid leads but in the meantime, let’s watch how these trends do in the new year and what ones will surprise us along the way.
*iBuyer Connect is not available in all markets. Check out cloudagentsuite.com/ibuyerconnect for more information.